Qualcomm Launches $100M Fund to Help Build the Metaverse.

Qualcomm, the company known for its mobile Snapdragon processors for smartphones and XR headsets, announced a new Metaverse Fund. The chipmaker says the new fund will be a launchpad for XR developers and companies working to build the metaverse.

At GDC 2022 nowadays, Qualcomm launched its Snapdragon Metaverse Fund for groups building “particular, immersive XR stories, in addition to related core augmented reality (AR)and related synthetic intelligence (AI)technologies,” the employer says.

Capital is said arrive via a combination of undertaking investments by Qualcomm Ventures in “main XR businesses” and a separate provide software for XR builders working in gaming, health and well being, media, entertainment, schooling, and organization.

“We supply the groundbreaking platform era and experiences so as to enable each the client and the corporation to build and engage within the metaverse and allow the physical and digital worlds to be connected. Qualcomm is the price tag to the metaverse,” said Qualcomm President and CEO Cristiano Amon. “Through the Snapdragon Metaverse Fund, we look forward to empowering developers and groups of all sizes as they push boundaries of what’s feasible as we enter into this new era of spatial computing.”

Over the years Qualcomm has been an increasing number of worried in growing reference designs for rising product categories, a lot of which inside the past focused round VR headsets, which worried its cause-constructed Snapdragon XR processors. Those have observed their manner into VR headsets together with Meta Quest 2, HTC Vive Focus three, and Pico Neo three.

Currently the organisation appears to be focusing on phone-tethered AR as the next vicinity of purchaser interest. As you’d consider, the chipmaker is positioning itself deeper into each XR hardware and software program introduction to higher integrate its next technology of Snapdragon processors into the rising product class.

This follows information that Qualcomm has partnered with Japanese gaming powerhouse Square Enix to create AR content material the usage of its Snapdragon Spaces XR developer platform, and TikTok determine business enterprise ByteDance to create XR hardware and software.